Motorsport: No deal yet but Formula One plans long-term stay in Singapore

The Singapore Grand Prix – a night race through the streets of Singapore – has been a fixture on the F1 calendar since 2008. Source: CHEN WS/Shutterstock.com

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SINGAPORE has a long-term future on the Formula One calendar even though a new deal is yet to be agreed, according to F1 chief executive Chase Carey.

This weekend marks the 10th Singapore Grand Prix – the last under the night race’s existing contract.

And despite crowds falling from an average of 100,000 on all three days in the race’s first year to 73,000 last year – down from 87,000 as recently as 2015 – Carey is eager for the sport to have a long-term future in the city-state.

The race, which takes place on the floodlit Marina Bay Street Circuit that winds its way through the heart of Singapore against a backdrop of glittering skyscrapers, remains one of the most glamorous on the 20-round calendar.

The race, along with China, is provisionally part of next season’s 21-round schedule but is marked by an asterisk as subject to confirmation by F1’s commercial rights holder.

Malaysia has hosted a F1 grand prix since 1999 but next month’s race at Sepang will be its last.

Carey, speaking at the All That Matters industry conference in downtown Singapore, said: “We haven’t concluded a deal yet, but we’re having positive discussions and it is certainly our goal to try and reach a deal that works for both of us.

“We’re proud of the race, we have a good relationship and our goal is to get to a place where we build on that partnership long-term.”

Carey, who replaced Bernie Ecclestone as the sport’s CEO in January, added: “It is certainly a spectacular setting with the city lit up, racing through the streets, a race we are proud of.

“In many ways it’s a race that anchors our Asian strategy. Still early days for us growing in Asia. But certainly a signature race for Asia, a signature race for us globally and it’s great to be here.” – Reuters.